Surplus to five-year average will switch to deficit Prices retreat following polar vortex US natural gas stocks posted a massive draw last week, likely well north of 300 Bcf, as the end-of-season storage outlook has changed dramatically in only two weeks. The US Energy Information Administration is expected to report a 333 Bcf withdrawal for the week-ended Feb. 19, according to a survey of analysts by S&P Global Platts. It would register as the second-largest storage draw on record, and only the second weekly pull to ever register above 300 Bcf. Significantly colder-than-normal temperatures across the middle of the country led to record production losses, sizeable demand curtailments and extremely elevated cash prices. Such swings in daily supply and demand adds a bit of uncertainty in forecasting this week’s EIA report as analysts’ predictions for the […]